Roscongress initiates meeting between Russian Minister of Industry and Trade Denis Manturov and SREI Infrastructure Finance Ltd. owner Hemant Kanoria
Russian Minister of Industry and Trade Denis Manturov met with Hemant Kanoria, the owner, chairman of the board and managing director of one of India’s largest corporations – SREI Infrastructure Finance Ltd., in New Delhi on March 17, 2017. The meeting was also attended by representatives of the Russian Ministry of Finance, the Roscongress Foundation, and the Russian Direct Investment Fund (RDIF).
Manturov spoke about priority areas of support for exports and mutual investment opportunities. The officials discussed details of joint cooperation for the stimulation and support of non-commodity exports from the Russian Federation to the Republic of India.
In particular, they spoke about the establishment of a joint fund with investment of USD 1 billion to finance projects that aim to support non-commodity exports. Manturov also suggested that the RDIF consider the possibility of participating in this fund.
The parties agreed to take a more detailed look at projects involving the establishment of a network of specialized service centres in India for agricultural machinery manufactured in Russia, the provision of financial instruments for buyers of Russian machinery and the localization of production in India, attracting investment for projects in agriculture and the processing of solid waste in Russia, and the promotion of Sukhoi products on the Indian market.
Kanoria also proposed using warehouse facilities in the free economic zone managed by SREI Infrastructure Finance Ltd to build a specialized warehouse for the finished products and spare parts of Russian manufacturers.
